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i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to do with you federal budget deficit up nine. dealing with china as an economic rival up eight. on the economy up three. changing business as usual in washington is dead even. if you are the obama campaign what concerns you the most here? the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong
i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to...
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minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study nonpartisan that has looked at this has said that you know, unless you really tweaked the numbers, there's not justify money out there to fill that $5 trillion hole. >> so, glenn, the president said she's the guy plan to cut $4 trillion in the deficit. here's how he describes that plan. >> the way we do it is $2.50 for every cut, we ask for a dollar of additional revenue. governor romney earlier mentioned the bowles-simpson commission. well that's how the commission bipartisan commission, that talked about how we shou
minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study...
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everybody would like a tax cut. who wouldn't want a tax cut, especially 20% across the board? if you're making 35%, the top rate, you go to 28%. all chris wallace was trying to get from ryan on sunday was just tell me what big deductions you're going to get rid of so we can finance that. it's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised to do, get the economy going through a tax cut, but i'm not going to tell you how i'm going to do it. can he get away with it with even the -- >> i hope not. i think this is a moment for jim lehrer to be very tough, respectful tough, and for president obama to come back at him and to sa
everybody would like a tax cut. who wouldn't want a tax cut, especially 20% across the board? if you're making 35%, the top rate, you go to 28%. all chris wallace was trying to get from ryan on sunday was just tell me what big deductions you're going to get rid of so we can finance that. it's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of...
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the number on his tax cut is $5 trillion. because he's talking about a 20% cut in marginal rates, eliminating the alternative minimum tax, estate tax and other deductions, $480 billion a year, $5 trillion over ten years, that's the number. then he says, you know, every day for the last 18 months, i've been talking about repealing every aspect of obama care, but actually i didn't mean it. well it's too late for that. if you repeal obama care across the board, that means that kids can no longer stay on their parents' coverage through age 26, it means that we can go back to a system of denying coverage for preexisting conditions, it means that seniors again are back on to co-pays larger co-pays as it relates to prescription drugs, and on dodd/frank, he's been saying he wants to repeal dodd/frank, andrea, every day for the last 18 months, repeal every aspect of it. dodd/frank of course is the bill that reregulated the financial system after the credit market collapsed, the catastrophic collapse of 2008. so does anybody really wan
the number on his tax cut is $5 trillion. because he's talking about a 20% cut in marginal rates, eliminating the alternative minimum tax, estate tax and other deductions, $480 billion a year, $5 trillion over ten years, that's the number. then he says, you know, every day for the last 18 months, i've been talking about repealing every aspect of obama care, but actually i didn't mean it. well it's too late for that. if you repeal obama care across the board, that means that kids can no longer...
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level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing yourself on the pledges that romney has made to reduce tax rates across the board by 20% eliminating the alternative minimum tax and erasing the federal estate tax is to eliminate deductions that will inevitably touch the middle class. the romney folks say the obama campaign and tax policy center created a strawman. the problem is the romney campaign hasn't created their own and responded with any detail on how they would do it. it becomes impossible at least politically once you account for the pledge handcuffs that romney has made. while the president didn't fully acknowledge he cam
level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing...
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plan. >> this was dishonest. >> i'm not in favor of a $5 trillion tax cut. >> the governor knows his $5 trillion tax cut isn't too popular, so a few weeks before the election, he's trying to pretend it doesn't exist. >> reporter: president obama at a star-studded fundraising concert in los angeles sunday heads to san francisco today with romney's poll numbers improving. >> they're looking very good. i feel very good. >> reporter: after the debate, romney is within two points of the president. and tomorrow, both candidates head to ohio, battleground ohio, where early voting is already under way. tomorrow is the last day to register to vote there. veronica? >> thank you. mitt romney will deliver that major policy speech before noon eastern, but the obama campaign is issuing a preemptive strike with this new tv ad criticizing the republican candidate's past foreign policy faux pas. take a look. >> reckless. amateurish. that's what news media and fellow republicans called mitt romney's gaffe-filled july tour of england, israel, and poland, when our u.s. diplomats were attacked in libya,
plan. >> this was dishonest. >> i'm not in favor of a $5 trillion tax cut. >> the governor knows his $5 trillion tax cut isn't too popular, so a few weeks before the election, he's trying to pretend it doesn't exist. >> reporter: president obama at a star-studded fundraising concert in los angeles sunday heads to san francisco today with romney's poll numbers improving. >> they're looking very good. i feel very good. >> reporter: after the debate, romney is...
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i will lower taxes on middle income families. >> he's going to get rid of the estate tax, mr. mayor, which aims directly at the top rate. the people who have a quarter million bucks and want to leave it to their kids. it's nor the very rich. he wants to lower the top rate from 35% to 28% for the richest people in the country. he wants to take the corp rate rate from 35% to 25%. >> clearly at that stage mr. obama should have turned to him and said you are not telling the american people the truth. just as he did today in denver when he said he wasn't telling the truth. he should have looked him in the eye and said mitt romney, you are not telling the american people the truth. and then proceed to walk through as clinton would have done the mathematics to prove it. i don't think romney would have been smart enough to figure out how to get out of that hit, but obama ignored that opportunity and i think that's a mistake. joan, you're correct. he will everywhere he goes, he will save the day and correct what he didn't do last night, but 58 million people will not be able to be cont
i will lower taxes on middle income families. >> he's going to get rid of the estate tax, mr. mayor, which aims directly at the top rate. the people who have a quarter million bucks and want to leave it to their kids. it's nor the very rich. he wants to lower the top rate from 35% to 28% for the richest people in the country. he wants to take the corp rate rate from 35% to 25%. >> clearly at that stage mr. obama should have turned to him and said you are not telling the american...
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, like your home mortgage tax deduction, in the romney/ryan tax plan. not enough time. they can't even say if you will pay more or less with their tax plan. well, mitt, i'm sure president obama will give you as many of his minutes as you need to explain it all in wednesday night's debate. >> mitt romney needs a great october. >> we know romney needs a great october. >> to change the course of this campaign. >> the final push is on. >> just days away from the first presidential debate. >> both candidates cramming for the first debate. >> everyone trying to lower expectations. >> franticly spinning to lower expectations. >> >> president obama is an experienced debatetor. >> i'm just okay. >> almost everyone seems to be muting enthusiasm in trying to undersell thvernlths is mitt's first time. >> i don't buy that. >> chris christie is taking a different tack. >> we have a candidate who is going to do extraordinary well on wednesday night. come thursday morning when we get to thursday morning, the entire narrative of this race is going to change. >> this is
, like your home mortgage tax deduction, in the romney/ryan tax plan. not enough time. they can't even say if you will pay more or less with their tax plan. well, mitt, i'm sure president obama will give you as many of his minutes as you need to explain it all in wednesday night's debate. >> mitt romney needs a great october. >> we know romney needs a great october. >> to change the course of this campaign. >> the final push is on. >> just days away from the first...
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a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to broaden the base much at all such that you'll have an explosive budget deficit, it's very much what we saw in the bush supply side trickle down years. >> bob, debatess left. the vice presidential debate, the town hall presidential debate and then the debate on foreign policy. >> i think we throw out the myth that somehow or other only the first debates matter. i think the other debates will have big audiences. i'm through with the expectations game. i think vice president biden will do very well next week. i think the president will bring his best game to these next two debates. this guy
a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to...
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and he wants to extend the bush tax cuts for wealthy americans. but it seems like having his real record pointed out to him is making the senator a little testy. >> excuse me, i'm not a student in your classroom. please let me respond, okay? >> maybe mr. brown could use that classroom. there is a difference between the letters "i" and "r." did senator brown think we would forget his extreme right wing record? nice try, but we got you. 's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b
and he wants to extend the bush tax cuts for wealthy americans. but it seems like having his real record pointed out to him is making the senator a little testy. >> excuse me, i'm not a student in your classroom. please let me respond, okay? >> maybe mr. brown could use that classroom. there is a difference between the letters "i" and "r." did senator brown think we would forget his extreme right wing record? nice try, but we got you. 's eb. want to give your...
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/ryan tax plan will raise taxes on middle-class families with a child, one or more children by an additional $2,000 a year. how -- all kidding aside, without the boos. stop all that malarkey. this is deadly ernest, man. this is deadly ernest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years. how in lord's name can they justify it? >> the romney campaign picked up on that middle class being buried for the last four years during which president obama was in the white house while campaigning in iowa. paul ryan did not miss the opportunity to seize on biden's choice of words. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's economic failures. >> the romney campaign also chimed in on twitter writing agree with joe biden. the middle class has been buried the last
/ryan tax plan will raise taxes on middle-class families with a child, one or more children by an additional $2,000 a year. how -- all kidding aside, without the boos. stop all that malarkey. this is deadly ernest, man. this is deadly ernest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years. how in lord's name can they justify it? >> the romney campaign picked up on that middle class being buried for the last four years...
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and he's just as hapless on taxes. >> raise taxes with obama care but he's got another taxes in mind. >> governor romney doesn't need zingers. he needs to get his story straight. he needs to stop debating himself. and at the end of the day, this election isn't about one liners. just ask our president. >> i know folks in the media are speculating already on who's going to have the best zingers. what i'm most concerned about is having a serious discussion about what we need to do to keep the country growing and restore security for hardworking americans. that's what people are going to be listening for. that's the debate that you deserve. >> that's the debate voters deserve. and on wednesday night, they won't be distracted by any zingers cooked up by romney's team of joke writers. joining me now is michelle cottle, washington correspondent for "newsweek" and the daily beast. and dana milbank, columnist for "the washington post." thanks to you both for coming on tonight. dana, are zingers the answer for mitt romney? >> well, he has to beware the very perilous boomerang zinger. delivering
and he's just as hapless on taxes. >> raise taxes with obama care but he's got another taxes in mind. >> governor romney doesn't need zingers. he needs to get his story straight. he needs to stop debating himself. and at the end of the day, this election isn't about one liners. just ask our president. >> i know folks in the media are speculating already on who's going to have the best zingers. what i'm most concerned about is having a serious discussion about what we need to...
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so let's hear him explain the tax policy. >> the cut in tax rates is lower -- all american tax rates -- >> how much does it cost? >> it's revenue neutral. >> it's not revenue neutral unless you take away the deductions. the first half, lowering the tax rates. does that cost $5 trillion? >> no, no. look, i won't get into a baseline argument with you. >> you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all the math. >> all right. you know what, mitt? you better put paul ryan away somewhere. send him to a sports bar somewhere in ohio. at least he can have a few beers with voters. he's got that going for him. who knows, it might help make inroads with that 9% deficit romney is facing against the president in the latest ohio poll. then again, there may not be enough time to do enough shots with enough intoxicated fans before voting starts in ohio tomorrow. so if his running mate is no use, how about a boost from the other person mitt's proposed to, his wife, ann. surely she can provide the comfort and confidence that mr. romney needs
so let's hear him explain the tax policy. >> the cut in tax rates is lower -- all american tax rates -- >> how much does it cost? >> it's revenue neutral. >> it's not revenue neutral unless you take away the deductions. the first half, lowering the tax rates. does that cost $5 trillion? >> no, no. look, i won't get into a baseline argument with you. >> you haven't given me the math. >> well, i don't have the time -- it would take me too long to go...
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cuts, going beyond the extension of the bush tax cuts. he talks about raising defense spending. he rejects a 10 to one ratio of spending cuts to tax increases. simpson-bowles. you mentioned them. they say the math doesn't add up in the romney plan and he won't tell us how he thinks it does. >> well, listen. the country is hungry for bipartisan compromise, david. i agree with you,t( especially after the last four year was intense partisanship from this white house. and mitt romney is the only candidate in this race who has a record of showing he knows as an executive how to forge bipartisan compromise. as the governor of massachusetts, over 85% of his legislature democrats, he made things happen. and he will make things happen as president of the united states. and will forge the right type of compromise to get this done. and that's the way it's going to work. >> do you think that this governor romney should be in a situation where he's actually prepared to deal with revenue, to raise revenue, go against his party if it's part of a package
cuts, going beyond the extension of the bush tax cuts. he talks about raising defense spending. he rejects a 10 to one ratio of spending cuts to tax increases. simpson-bowles. you mentioned them. they say the math doesn't add up in the romney plan and he won't tell us how he thinks it does. >> well, listen. the country is hungry for bipartisan compromise, david. i agree with you,t( especially after the last four year was intense partisanship from this white house. and mitt romney is the...
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don't like the tax policy numbers, find your own. there is a lot of that going on. >> in fairness i think what mitt romney said is defensible in the sense that, in fact, we have seen millions of people drop out of the labor force. if they hadn't dropped out and they seem to have because -- some is anyonie i aging but a l find jobs. that's a fair thing to say. >> he's on stage alan west who on friday suggests this was part of leftist radicalism at work and part of the chicago machine manipulating labor statistics. >> indeed. then there are the crazy people. >> that speaks volumes. >> he probably didn't pick the appearance knowing what the jobs figures would be. i think it's fair to say the economy has been bachltd obama doesn't have much to do with it. th president can't do that much to control the economy. but four years ago obama got to run saying, they drove it into the ditch, i can drive it out. then it turns out he can't. now the next guy gets to say, i can drive it out. he also can't drive it out, but this is the ritual every fo
don't like the tax policy numbers, find your own. there is a lot of that going on. >> in fairness i think what mitt romney said is defensible in the sense that, in fact, we have seen millions of people drop out of the labor force. if they hadn't dropped out and they seem to have because -- some is anyonie i aging but a l find jobs. that's a fair thing to say. >> he's on stage alan west who on friday suggests this was part of leftist radicalism at work and part of the chicago machine...
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romney's tax plan. for months he's been telling us that he'll cut everyone's taxes by 20%. so some of the country's brightest economists did the math and found that romney's tax plan promises to cut taxes by $5 trillion without adding to the deficit. but when mitt romney took to the stage last night, he delivered a line that beggared belief. >> no economist can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. >> so black is white, up is down, and everything is the way he says it is in the world of mitt romney. like yago, mitt romney delivered those lines in the presence of a black man, but on this occasion the president would not be deceived. he allowed mr. romney to rehearse the full extent of his lie and then just a few hours ago drew our attention to what really happened last night. >> the real mitt romney has been running around the country for the last year promising $5 trillion in tax cuts in favor of the wealthy. the fellow on stage last night said he didn't know anything about that. >> mr. romney is quite rightly b
romney's tax plan. for months he's been telling us that he'll cut everyone's taxes by 20%. so some of the country's brightest economists did the math and found that romney's tax plan promises to cut taxes by $5 trillion without adding to the deficit. but when mitt romney took to the stage last night, he delivered a line that beggared belief. >> no economist can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. >> so black is white,...
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taxes and cut everyone's income tax by 20%. the math doesn't seem to add up there. the other striking thing being he picked paul ryan, the man known for putting out -- at least more details than mitt romney, but he has not embraced. ryanism to me, at least, the core is we're going to be detailed about what conservative policy means. romney's not embraced that at all. >> good luck tonight. thank you both. new next, tick tock, tick tock. let's clear the air from a mile up. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with
taxes and cut everyone's income tax by 20%. the math doesn't seem to add up there. the other striking thing being he picked paul ryan, the man known for putting out -- at least more details than mitt romney, but he has not embraced. ryanism to me, at least, the core is we're going to be detailed about what conservative policy means. romney's not embraced that at all. >> good luck tonight. thank you both. new next, tick tock, tick tock. let's clear the air from a mile up. look, if you have...
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>> he said for everybody, across the board. >> on top of the bush tax cuts? >> president obama during the debate said he is the one who is going to raise taxes by letting the bush tax cuts expire. >> but we just played two things back to back that do not match. >> look, he said all look, 20% across the board. i think there were two different things he was speaking about there. he has a very pro-growth policy. he has a policy to create 12 million jobs. >> so are you saying he misspoke in one of those? >> i'm not going to get into whether he misspoke or not -- what i know is he has said all along, 20% across the board for everybody, and that means everybody. to what specifically he was speaking there, i'm not exactly sure. but it's a clear choice what you have. we don't need to get caught up on the back and forth. he is going to put forward pro-growth jobs. and 7.8% is an anemic recovery. that is nothing to celebrate. i remember when president bush was criticized by president obama when i worked for him -- >> but for the past four years, republican have said sa
>> he said for everybody, across the board. >> on top of the bush tax cuts? >> president obama during the debate said he is the one who is going to raise taxes by letting the bush tax cuts expire. >> but we just played two things back to back that do not match. >> look, he said all look, 20% across the board. i think there were two different things he was speaking about there. he has a very pro-growth policy. he has a policy to create 12 million jobs. >> so...
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the cut in tax rates? >> the cut in tax rates is lower all americans tax rate business 20%. >> how much does that cost? >> it's revenue neutral. >> unless you take away the deductions. >> we're going to get to that in a second. the first half lowering the tax rates does that cost $5 trillion? >> no. look, i won't get into baseline argument with you because that's what a lot of this is about. lowering tax rates broadening the tax base works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> that was paul ryan on fox news yesterday making the case against math or for time or some combination thereof. these are the moments where i think the romney team has trouble, once you can actually drill down and say, but how does it work? show me the numbers. there is no answer. >> right. paul ryan thinks he can use this kind of policy wonk construction that he's been able to create to evade policy discussions. h
the cut in tax rates? >> the cut in tax rates is lower all americans tax rate business 20%. >> how much does that cost? >> it's revenue neutral. >> unless you take away the deductions. >> we're going to get to that in a second. the first half lowering the tax rates does that cost $5 trillion? >> no. look, i won't get into baseline argument with you because that's what a lot of this is about. lowering tax rates broadening the tax base works and you can --...
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>> how they can justify, how they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class has been buried. those aren't my words. those happened to be the words of the distinguished vice president of the united states, mr. joe biden. no, don't boo. he's the best thing we got going, guys. >> and how's this for trail mix? mitt romney got more than he bargained for when he posed at chipotle after ordering a burrito bowl in a photo op that's an internet sensation. good day, andrea mitchell live in denver at the site of tonight's presidential debate, the first time in five years that barack obama and mitt romney are going to be face-to-face in what the local newspaper is headlining as the duel in denver. joining m
>> how they can justify, how they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class...
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by tax expenditures. >> he also said he would not sign any tax deal. >> that's true. that's why you have the upsets that he's talking about. it's not going to be easy. it took three years to do it in the 1986 tax bill. it's not going to be easy here. i have to say, he outlined three ways to deal with trying to reduce the debt. he took one of them off there. you have to deal with two sides here. no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president
by tax expenditures. >> he also said he would not sign any tax deal. >> that's true. that's why you have the upsets that he's talking about. it's not going to be easy. it took three years to do it in the 1986 tax bill. it's not going to be easy here. i have to say, he outlined three ways to deal with trying to reduce the debt. he took one of them off there. you have to deal with two sides here. no taxes to deal with the deficit. is that the right thing? >> keep in mind, he...
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lowering the tax rates by broadening the tax rates -- >> let me --. i -- >> you haven't given me the math. >> i don't have the time. it would take me too long go through all of the math. >> that's a quote you're going to hear a lot, i guess from the obama campaign and the president himself. meanwhile the president who's known for being a bit long-winded and can have an hour-long news conference with only eight questions is working to sharpen his responses. quote, we eh had a hard time getting every point across within the time limit. you're trying to make a case to the people, so you have to make sure your answers connect with people. he got some advice from howard dean. >> the president's got to avoid being irritable. hi's got to roll with the punches. mitt is going to be out there, aggressive. he feet to show a sense of humor and show he's likeable. that's all nonverbal cues. >> folks, these debates, though, they don't have time limits, they allow for a lot of back and forth. it will be interesting to see which candidate enjoys that idea that you do
lowering the tax rates by broadening the tax rates -- >> let me --. i -- >> you haven't given me the math. >> i don't have the time. it would take me too long go through all of the math. >> that's a quote you're going to hear a lot, i guess from the obama campaign and the president himself. meanwhile the president who's known for being a bit long-winded and can have an hour-long news conference with only eight questions is working to sharpen his responses. quote, we eh...
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tax cuts for the marginal rates. a big one down from 35% for the top rate down to 28%. but he won't tell us how he's going to do it. he won't tell us the big deductions he's going to kill. and to me that's the heart of what he's actually promising. howard, how can he tell us what he's going to do without killing himself politically by nailing these deductions? >> i don't think he can play stall ball for the next five weeks on that, chris. i think every debate moderator starting with jim lehrer tomorrow night is going to demand specifics in the way chris wallace tried to do last week on fox. and i also think that the numbers are emblematic of values in this case. people want to know about mitt romney. they're undecided. i disagree with chuck a little bit. i think people are prepared to blame the president enough to dismiss him if, as chuck says, they are secure about romney. it's that last piece that romney hasn't done, and forcing him to discuss the details of his tax plan is not a way necessarily to win those undeci
tax cuts for the marginal rates. a big one down from 35% for the top rate down to 28%. but he won't tell us how he's going to do it. he won't tell us the big deductions he's going to kill. and to me that's the heart of what he's actually promising. howard, how can he tell us what he's going to do without killing himself politically by nailing these deductions? >> i don't think he can play stall ball for the next five weeks on that, chris. i think every debate moderator starting with jim...
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i don't have a tax plan that is 4.8 trillion, i am not going to cut taxes on the rich. i don't have a voucher plan, i love teachers, i think we need more of them. don't believe me, speaker gingrich was eloquent in the primaries, saying that mitt romney will say absolutely anything to get elected. >> the president had 90 minutes, now, if he had done his homework and prepared, if he had actually studied romney, why didn't he say it? virtually every analyst has said, and even your deputy campaign manager has said the charges -- was made wrong. forgetting that for a second, the job of the president is supposed to be able to be competent and to stand up for what he believes in and articulate what is wrong. mitt romney walked over him. >> and alex, you mentioned the president is air born to the golden state, a star studded concert with katy perry, and tuesday, campaigning in ohio, meanwhile, mitt romney had a rally last night in florida and stays in florida for a second day, more campaign events later in that swing state. >> yeah, i think you left out george clooney, because
i don't have a tax plan that is 4.8 trillion, i am not going to cut taxes on the rich. i don't have a voucher plan, i love teachers, i think we need more of them. don't believe me, speaker gingrich was eloquent in the primaries, saying that mitt romney will say absolutely anything to get elected. >> the president had 90 minutes, now, if he had done his homework and prepared, if he had actually studied romney, why didn't he say it? virtually every analyst has said, and even your deputy...
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the cut in tax rates. >> lowers all americans tax rates. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless it takes away -- >> lowering tax rates by broadening the tax base -- >> you haven't given me the math? >> it would take me too long to go through all the math. >>> in massachusetts tonight, senator scott brown and his democratic challenge elizabeth warren face off in the second of four debates for that u.s. senate seat up there. david gregory will moderate it comes as new boston globe poll shows warren inching slightly ahead, 43% to 38%. still 18% of voters remain undecided there. the same poll conducted in may gave senator brown a two-point lead. >>> still ahead on "way too early," wow were the new york jets bad yesterday. shutout, blownout, injured on their home field. rex ryan's press game post conference the only highlight of the day. >>> and an incredible comeback by team europe at ryder cup. the united states entered sunday with a big lead and it's big guns on the course. we'll show you what happened in sports. all that
the cut in tax rates. >> lowers all americans tax rates. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless it takes away -- >> lowering tax rates by broadening the tax base -- >> you haven't given me the math? >> it would take me too long to go through all the math. >>> in massachusetts tonight, senator scott brown and his democratic challenge elizabeth warren face off in the second of four debates for that...
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what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a math problem. they can't pay for it. if they can't pay for it, then they are going to raise taxes on the middle class. that's what the economic studies have shown. and look, i don't know anybody who thinks we're another tax cut for a millionaire away from a stronger middle class. that's just not how we have built our economy before and it's not how we're going to continue to make our country strong now. >> will president obama confront romney on these issues or rely on the debate moderator to do it? how aggressive will the pres
what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a...
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is romney really not seeking a $5 trillion tax cut? will people be able to keep their health insurance under the president's plan? >> i always kind of approach it from they're both lying to me. so now i have to figure out which one is lying to me less and basing my decision on that. >> reporter: so i guess the question that i have that maybe you can't answer is why can't you make up your minds? >> they all said the rest of the debates are even more crucial. after watching round one, perhaps significantly change the entire race. ron allen, nbc news, denver. >> aides to mitt romney say he will spend part of today preparing for the next presidential debate, which is scheduled for october 16th. the president's team says he hasn't held any formal debate practice sessions since wednesday, and is spending today celebrating his 20th wedding anniversary. with me now is our brain trust panel, perry bacon jr. is an msnbc contributor and political editor at thegrio.com. jennifer rubin writes the right turn for the "washington post." and tara mcgui
is romney really not seeking a $5 trillion tax cut? will people be able to keep their health insurance under the president's plan? >> i always kind of approach it from they're both lying to me. so now i have to figure out which one is lying to me less and basing my decision on that. >> reporter: so i guess the question that i have that maybe you can't answer is why can't you make up your minds? >> they all said the rest of the debates are even more crucial. after watching...
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but the cut in tax rates. >> the cut in tax rates is lower -- all american tax rates by 20%. >> how much does it cost? >> it's revenue neutral. it works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the -- it would take me too long to go through all of the math. >> you know, tonight, jim lehrer, he's a great moderator. take all of the time you want. take my time to explain how you're going to do it. yesterday romney himself told a local denver station that part of his tax plan might include a cap on deductions at 17,000 a person which would not hurt billionaires at all like him. let's take a look. >> you could say everybody's going to get up to $17,000 deduction and you can use your charitable deduction, your home mortgage deduction or others, health care deduction and you can fill that bucket, if you will, the $17,000 bucket and higher income might have a lower number or you could do it by the same method that bowles/simpson did it, which is limiting certain deductions but that's the sort of thing that -- >> well, his tighing would take him past
but the cut in tax rates. >> the cut in tax rates is lower -- all american tax rates by 20%. >> how much does it cost? >> it's revenue neutral. it works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the -- it would take me too long to go through all of the math. >> you know, tonight, jim lehrer, he's a great moderator. take all of the time you want. take my time to explain how you're going to do it. yesterday romney...
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i'm a former federal tax lawyer and a business owner. i get how jobs are created but i also understand how they're destroyed. >> joining me now is her competitor, jim graves, the democratic nominee for minnesota's sixth congressional district. jim, thank you for joining me. >> thank you for having me on. appreciate it. >> you had no political experience, jim, until you began your campaign. i'm sure your constituents want to hear what makes you qualified to serve in congress? >> i'm a business guy. i've created a lot of jobs. i understand the economy, budgets, how to get things done. obviously michele bachmann doesn't. so i'm prepared to go to congress and get things done, bring people together, make this economy work again and she doesn't. >> you just heard the congresswoman, though. how does your plan for the economy differentiate from hers? >> first and foremost we're not going to lower the minimum wage. that doesn't help anybody. what we need is good wage jobs. she's pledged to go to norquist and coke brothers. i'm pledging myself to
i'm a former federal tax lawyer and a business owner. i get how jobs are created but i also understand how they're destroyed. >> joining me now is her competitor, jim graves, the democratic nominee for minnesota's sixth congressional district. jim, thank you for joining me. >> thank you for having me on. appreciate it. >> you had no political experience, jim, until you began your campaign. i'm sure your constituents want to hear what makes you qualified to serve in congress?...
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his running mate paul ryan refused to say how much their tax cut would cost alleging it would take too long to get into all the math. congressman ryan defended that dodge yesterday. >> i didn't want to get into all the math of this because everybody would start changing the channel. >> and an hour ago, after offering no new specifics on his ticket's tax plan ryan said this -- >> problem is it took me about five minutes to go into all of this with you and you're in a 30-second tv show you can't do it as much. >> on behalf of the television industry, we salute you paul ryan for being so consider ate of the viewers at home. americans still have close to no idea as to what the romney/ryan plan is actually all about. will an 11-minute period of open discussion tomorrow night prove sufficient for governor romney to, quote, get into all the math? perhaps. but with so many of his own policies and open conflict with one another it seems like the most pressing equation for team romney to solve is whether mitt plus mitt equals one or two. the paradox of the mittens, katrina. >> i mean the romney/
his running mate paul ryan refused to say how much their tax cut would cost alleging it would take too long to get into all the math. congressman ryan defended that dodge yesterday. >> i didn't want to get into all the math of this because everybody would start changing the channel. >> and an hour ago, after offering no new specifics on his ticket's tax plan ryan said this -- >> problem is it took me about five minutes to go into all of this with you and you're in a 30-second...
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these types of restrictions are like poll taxes and literacy tests. we need to fight back and keep on fighting back. we're very glad for the victory in pennsylvania but we hope that the justices around the country will change their mind. >> ben, you're in a hero's role in all this. i appreciate anything you do in for our country. i want to ask you something. this seems to be hand in glove with the same kind of dog whistle stuff they're doing to white working class voters. get them upset about welfare and food stamps so you get the blacks so they can't vote and the whites angry at the blacks so they'll vote republican. it does seem like a two-pronged effort. >> no, that's right. and, you know, race has really been injected into this race in ways that are really insidious, and when you hear somebody talk about folks are too lazy and knowing who he's talking about are single moms who are raising kids, who are working, who may number a county where there's no d.o.t. or in a county where the d.o.t. is open one day or may are a boss that if they have to go
these types of restrictions are like poll taxes and literacy tests. we need to fight back and keep on fighting back. we're very glad for the victory in pennsylvania but we hope that the justices around the country will change their mind. >> ben, you're in a hero's role in all this. i appreciate anything you do in for our country. i want to ask you something. this seems to be hand in glove with the same kind of dog whistle stuff they're doing to white working class voters. get them upset...
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it said, i believe these people. 47% of the country don't pay income tax believe they're entitled. they are always dependent on government. that's hard to take back. he can say i apologize for na and i was wrong for saying it, but i believe the damage is done. you can't put the toothpaste back on the tube. >> it took three weeks for three weeks for governor romney to say his remarks are wrong. let me play the evolution from where we got from his initial reaction to where he was last night. >> as i point out, i recognize that among those that pay no tax, approximately 47% of americans, i'm not likely to be highly successful with a message of lowering taxes. it's not he elegantly stated, let me put it that way. i'm speaking off the cuff in response to a question. >> i have a very effective campaign doing a good job, but not everything i say is elegant. >> i'm a president for 100% of the american people. that's the real percent people care about. not 99 versus 1 or 47 versus everyone else. i said something completely wrong. >> the initial remarks caught on tape, some on the right said
it said, i believe these people. 47% of the country don't pay income tax believe they're entitled. they are always dependent on government. that's hard to take back. he can say i apologize for na and i was wrong for saying it, but i believe the damage is done. you can't put the toothpaste back on the tube. >> it took three weeks for three weeks for governor romney to say his remarks are wrong. let me play the evolution from where we got from his initial reaction to where he was last...
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. >> i'm not looking for a $5 trillion tax cut. what i've said is i won't put in place a tax cut that adds to the deficit. >> governor romney's central economic plan calls for a $5 trillion tax cut. for 18 months, he's been running on this tax plan. now, five weeks before the election, he's saying his big, bold idea is never mind. >> all right. what what's the deal here? >> this is a complicated one. we have from the romney campaign a plan that has been analyzed by an independent group that said it would lead to around $450 billion a year in revenue that's cut from the -- revenue that's not there as a result of these taxes. the obama campaign has then taken this and extrapolated it over ten years, and they have arrived at $5 trillion. well, ten years times $450 billion doesn't get us to $5 trillion. so that's not quite right. but what is true is that the romney campaign, governor romney himself, has not explained what they're going to do to make sure that this is revenue neutral, as he said. he says, and the campaign says, that the
. >> i'm not looking for a $5 trillion tax cut. what i've said is i won't put in place a tax cut that adds to the deficit. >> governor romney's central economic plan calls for a $5 trillion tax cut. for 18 months, he's been running on this tax plan. now, five weeks before the election, he's saying his big, bold idea is never mind. >> all right. what what's the deal here? >> this is a complicated one. we have from the romney campaign a plan that has been analyzed by an...
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do we want to live in a country where a minority of people are the tax providers? do you want everybody to be a stake holder? do you want everybody to have skin in the game? these are arguments worthy of a presidential campaign. what paul ryan is talking about, i think it will be blended together in the context of romney's comments, but i don't think it's necessarily fair to do it. >> i think you're right about the political blending of it and about the necessity of that discussion and that could be a sober and serious discussion. the part that makes it political is when you get this moral for anybody on the receiving side of a net transfer from the government. that's you're not taking responsibility for your life. you don't believe in the american dream stuff. >> it's the 47% comments. you're really talking about the entire enlisted core of the united states military, for example. i believe that veterans, for example, have earned the benefits that they are being given. so he described a big portion of the company that are republican voters. that's why it was so po
do we want to live in a country where a minority of people are the tax providers? do you want everybody to be a stake holder? do you want everybody to have skin in the game? these are arguments worthy of a presidential campaign. what paul ryan is talking about, i think it will be blended together in the context of romney's comments, but i don't think it's necessarily fair to do it. >> i think you're right about the political blending of it and about the necessity of that discussion and...
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be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big, bold idea is never mind. >> but the etch a sketching did not stop there. governor romney who once believed financial regulation was hurting the economy -- >> dodd frank it's called, has not helped enterprise get going, it's slowed it down. >> now seems to be a supporter of wall street regulation. >> want to repeal dodd/frank? >> and replace it. we're not going to get rid of regulation. some parts of dodd/frank that make all of the sense in the world. >> and back in june, romney mocked the president's crazy ideas about needing more
be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big,...
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on average, gas prices tend to be a little higher because of taxes and environmental regulations there and also the mixing, the switchover. >> that's happening with american airlines? pilots issues and seats coming undone? >> i'm not on american this afternoon, but they had to ground almost 100 flights because the seats were coming loose. they're saying, the spokesperson was saying because of the gunk in between the seats. >> like spilled soda? >> exactly. if you ever lose your pen on flight, don't put your hand down there pu's don't know what you're going to find. that is a reason why the seats are coming loose. insiders are saying it's a mechanism failure and they were trying to remold those seats so they'd be a little better. >> the time cog not be worse. the pilots having issues. >> could not be worse. hopefully get the seats taken care of. i can't imagine being on a seat, flipping backwards. might be sort of fun. >> not the kind of drama you want on a flight. >> probably right. >> see you before your flight again. thank you very much. >>> in today's one-minute playback, jimmy fall
on average, gas prices tend to be a little higher because of taxes and environmental regulations there and also the mixing, the switchover. >> that's happening with american airlines? pilots issues and seats coming undone? >> i'm not on american this afternoon, but they had to ground almost 100 flights because the seats were coming loose. they're saying, the spokesperson was saying because of the gunk in between the seats. >> like spilled soda? >> exactly. if you ever...
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax -- it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles simpson, by the way. get the rates down, lower deductions and exemptions, to create more jobs, because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense, over ten years, that's mor
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax -- it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles...
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tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map of where the tresh is, now you get this opinion letters from lawyer, if you follow one every one of these steps, you can get your treasure untaxed to the cayman islands. one of the things the times points out because of the way these were set up and the fees they were charged against them, the less taxes paid by those who were investing, the greater the sum available and therefore the higher the fees that romney collected. >> karen finney, romney, you get the sense the romney campaign expected that the tax return story was a story
tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map...